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Gift tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 July 2016 Is gift (in dollars) received from siblings who is settled in foreign country taxable? Is there any upper cap for the gift?
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CA. Sunil Gokhale

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CA. Sunil Gokhale (Expert)
15 July 2016 Gift from brother/sister is not taxable.

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